LONDON (Reuters) - Royal Dutch Shell is pulling some of its funds out of European banks over fears stirred by the euro zone's mounting debt crisis, The Times reported on Monday.
The company's chief financial officer Simon Henry told the newspaper that Shell is cutting back its exposure to European credit risk in the worst-hit economies and putting a higher price on doing business with the region's peripheral nations.
"There's been a shift in our willingness to take credit risk in Europe. The crisis has impacted our willingness to afford credit," Henry is quoted as saying.
Henry is cited as saying that the Anglo-Dutch oil major would rather deposit $15 billion of cash in non-European assets, such as U.S. Treasuries and U.S. bank accounts.
The firm is forced to keep some money in Europe to fund its operations, but is keeping the bulk of its reserve liquidity out of the euro zone to avoid growing macroeconomic risk, the report said.
(Reporting by Stephen Mangan; Editing by Edmund Klamann)
Relacionados
- Tomas Gómez dice que la supresión de Oficinas Judiciales en pequeños municipios afectará a 50.000 personas al año
- Pastor subraya que hay ayuntamientos de pequeños municipios "prácticamente" en suspensión de pagos
- Los pequeños comerciantes venden en las rebajas de julio un 43% menos que el año pasado
- Los coches urbanos y los todoterreno pequeños salvan la cara en julio
- Siete detenidos por atracar joyerías de pequeños pueblos de diez provincias